April 06, 2017
Highway 50 Gold Provides Drilling Update for Monroe Project
Vancouver, British Columbia -- Highway 50 Gold Corp. (TSX.V -- HWY)
Highway 50 Gold Corp. (the "Company") announces that it has suspended drilling at its Monroe property in southeastern BC until sufficient time has elapsed to allow spring breakup to conclude.
Drill hole HWY 17-003 is currently at a depth of 785 m and was drilled with "HQ" diameter core (6.5 cm). Management had projected the Sullivan Time interval to be intercepted between 550 m and 600 m. The drill hole is currently at 785 m and is still in the Sullivan Mine hanging wall sequence. To management's knowledge, this package of rocks has not been known to exist outside the Sullivan Mine area until this drill hole. Other holes on the property have not encountered this sequence and have been drilled deeper into the stratigraphic column. A 6 m zone of vented albite fragmental was encountered at 742 m. A similar style of alteration occurs in the immediate hanging wall of the Sullivan Mine. Immediately beneath the albite fragmental are intensely sericitized sediments with veinlets and disseminations of sphalerite and galena (ZnS, PbS) present locally to the bottom of the hole.
Drilling is anticipated to resume within the next six weeks, at which time DDH Hwy 17-003 will be cased to 785 m and reduced to NQ core (4.5 cm).
The Company has an option to earn a 50 per cent interest in the Monroe property by spending annual optional exploration expenditures totalling $3,000,000 over the next four years.
This news release has been reviewed by Gordon P. Leask, P.Eng., President and CEO of the Company, and a Qualified Person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Email: email@example.com or firstname.lastname@example.org
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of southeastern B.C. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crustal architecture and new geological understanding on the Monroe property in B.C.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note This news release contains certain forward-looking statements, including statements regarding the Company's proposed plans for the exploration of the Monroe property; and the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company may not obtain satisfactory results from its drilling program and exploration activities, changes in metal prices, changes in the availability of funding, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.